According to new data released in DappRadar’s ‘Q3 Blockchain Games Report’, there’s been a steep decline of 48% in investments for blockchain games.
To put a number to this, it accounts for a drop from $3.1 billion in Q2 to just $1.3 billion in Q3 this year. Dappradar adds that, despite harsh market conditions, there was an 8% growth in UAWs in September, indicating that, while the investment liquidity has thinned, interest in Metaverse and blockchain projects has increased.
September’s UAWs were the highest on record; the amount of investment reflected a broader decline of investor interest, with games making up nearly half of all project investments.
However, the conclusion shouldn’t be drawn that the vertical is in decline. Slowdowns are bound to happen in any market, but when it’s taken into account blockchain’s broader upward trajectory over the past few years, its more a decline in upward momentum than a decline overall.
You can find the full report here if you’re interested in learning more.